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Halifax research shows house prices have trebled since the Millennium




Research from Halifax has discovered that house prices in the United Kingdom have trebled since the Millennium.

In South Kesteven, data from the Land Registry shows that the average house price in 1999 was £65,578 but increased to £225,459 by October 2019.

At the end of 1999 the average Rutland home cost £95,065, but by October 2019 this figure rose to £309,406.

Halifax logo
Halifax logo

First-time buyers are also facing much higher prices than 20 years ago.

At the end of 1999 in the East Midlands, the average first home cost £48,404, rising 267 per cent over the 20-year period to £177,562.

Russell Galley, managing director for Halifax, said: “New buyers are hugely important to the overall health of the UK housing market.

"Despite a shortage of homes and the ongoing challenge of raising deposits, we know that the number of first-time buyers is moving in the right direction.

"Key to this is continued low mortgage rates and a wealth of options available to first-time buyers, helping to support even more step foot on the ladder.”

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